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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING REVENUES      
Operating revenues $ 5,461 $ 5,684 $ 9,514
Gain (loss) on derivative instruments (3) 230 (463)
Total operating revenues 5,458 5,914 9,051
OPERATING EXPENSES      
Direct operations 658 562 460
Gathering, processing and transportation 976 975 955
Taxes other than income 271 283 366
Exploration 25 20 29
Depreciation, depletion and amortization 1,840 1,641 1,635
General and administrative 302 291 396
Total operating expenses 4,072 3,772 3,841
Gain (loss) on sale of assets 3 12 (1)
INCOME FROM OPERATIONS 1,389 2,154 5,209
Interest expense 106 73 80
Interest income (62) (47) (10)
Gain on debt extinguishment 0 0 (28)
Other income 0 0 (2)
Income before income taxes 1,345 2,128 5,169
Income tax expense 224 503 1,104
NET INCOME $ 1,121 $ 1,625 $ 4,065
Earnings per share      
Basic (in dollars per share) $ 1.51 $ 2.14 $ 5.09
Diluted (in dollars per share) $ 1.50 $ 2.13 $ 5.08
Weighted-average common shares outstanding      
Basic (in shares) 742 756 796
Diluted (in shares) 745 760 799
Oil      
OPERATING REVENUES      
Operating revenues $ 2,953 $ 2,667 $ 3,016
Natural gas      
OPERATING REVENUES      
Operating revenues 1,693 2,292 5,469
NGL      
OPERATING REVENUES      
Operating revenues 738 644 964
Other      
OPERATING REVENUES      
Operating revenues $ 77 $ 81 $ 65